FIT HON TENG's stock price soared 5.15% during intraday trading on Thursday, continuing its recent positive momentum in the market.
The significant price movement follows parent company Foxconn reporting record April revenue with a 29.7% year-over-year increase, driven by robust AI cloud product procurement momentum. FIT HON TENG management has also raised its cloud and data center revenue share forecast for the next three years from the low-20% range to the low-30% range, reflecting increased confidence in AI server upgrade cycles as hyperscale cloud companies collectively raise capital expenditure budgets.
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